Tag Archives: NSA

On Friday May 12, 2017 of last week, a Malware Virus was unleashed that rendered problems across the international globe. While not the first Virus of it’s kind, this is the most recent.

What can we learn? …… Something important!

WannaCry Virus

“WannaCry”, the odd name of this most recent virus has spread to an estimated 230k machines. Once infected, your nice machine turns mean and asks you to deposit $300 into a bitcoin account or else deletes your files.

The ransom is doubled to $600 after three days if not paid, allowed another three days, and then if not paid, the files are supposed to be deleted.

Created by the NSA- accidentally lost

According to this NPR report the WannaCry virus was created by the NSA (National Security Agency) against many computer companies wishes, shelved for later use or research, then stolen from the NSA by a hacker.

Not withstanding the coincidence associated with an agency who’s purpose is Security, losing its own files there is an important lesson to be learned. Here is another good article from Wharton.

Lesson learned- Download those updates

The WannaCry virus was completely blocked by a patch from Microsoft several months ago.

The only systems affected at this time are older systems that did not do their regular updates or very old outdated systems that did not have updates.

The picture above taken was from the machine used to make this post.

Make sure you are doing your updates, either manually or automatically and do not use outdated software that does not have updates!

This certainly does not guarantee an infection free future for our machines, but at least it may stop the easy access !

At the end of each month we like to look back at the more important and dramatic events of the prior to highlight our thoughts and verbalize them in greater and more personal detail with Video commentary. Past Video’s can be found here on our Monthly Review Video tab . As a living digital diary we look forward to reviewing in the future.

In suspender with belt like fashion, if neither of the above are working, click here!

Welcome Janet Yellen, Now Get to Work

As of February 2014, Ben Bernanke will depart his position of Federal Reserve Chair (some say one of the most powerful positions in the world…I digress). The early portion of Big Ben’s term was horrific, challenging, and down right scary at times. That was then, and this is now, as of late we have ridden the wave of stimulus through asset purchases as Big Ben rides into the sunset…or more likely authorship and speaking engagements. Enter Mrs. Yellen, from our perch her term appears to begin with the removal of stimulus. Good Luck, we will be watching interest rates closely …. 4% may be just around the corner.

4% looks reasonable… looking longer term!

NSA Spying /Security Breaches…

Interesting, we think the story is still being written on this as more NSA revelations become public. There is no easy way say “We all do it !“, while only the USA has been publicly reprimanded. Through our international contacts we have found it to be a big deal from those being spied upon. We throw no blame and have no insights to the complexity of this issue. We will keep a watchful eye as shareholders of world exporting companies for tougher international competition in certain situations. Nothing major YET …. these things usually become bigger at a time of crisis.

Wire Fraud Alert, All About the Password

Lastly we noted the increase in on-line fraud with a modern-day Bonnie and Clyde like boldness. Unknowingly of the macro increase we wrote about this in our latest newsletter only to be repeatedly informed through industry associations and our various vendors. It is real, and while not with a gun, it may cost more than an old style “Bonnie and Clyde” robbery.

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Important Disclaimer

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, please consult your financial advisor prior to investing!

Background

The is the vocal portion of J.K. Financial, Inc. a Dallas Texas Based Fee Only Total Wealth Financial Planning Firm. Founded by John Kvale, a Dallas Texas Fee only Financial Planner and Total Wealth Manager.

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